ImportantCool Requirements Document: Compensation Draft – version 0.2

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Requirements Document


Draft – version 0.2

Date of creation: 17 October 2013

Created by: Austin G Mackell

1.  Introduction

This document describes the ways that ImportantCool (IC) will financially compensate associates.

  • Commissions
  • Wages and salaries
  • Blogs

2.  Commissions

Associates who produce content for the website will be compensated for pieces of work commissioned on a monthly basis. Systems for commissioning projects running substantially longer than one month shall be developed.

1.1 Calculating costs and publishing pitches

A.     Anticipated expenses (such as travel and accommodation) are calculated for a piece of work the content producer plans to create

B.     The cost of the work (using agreed-upon per-word or per-item rates) is also calculated for each piece of work the content producer plans to create

C.     These amounts are included in a budget for each piece of work. The budget is part of the information that accompanies the pitch. Pitches are published on a content producer’s website page and also on the Monthly Budget Page.

D.    The Pitch Page for each planned story as well as the overall Monthly Budget Page are visible to the public and sharable on social media,

1.2 Budget allocation

A.     Website users can flag, and vote for (but not against), pitches at either location. Website users thus contribute directly to allocating the monthly budget.

B.     Voting and other interactive functions such as commenting on pitches, are only accessible for users who pay (the types of payment are described in the Revenue Requirements Document, section 3, ‘Payment to access some website features‘).

C.     The monthly budget is set in accordance with a longer term policy, and is divided amongst the stories that receive most support from the community of website users, in order of popularity.

D.    Expenses will be paid for immediately after a piece is commissioned but the part of the cost of a pitch that represents work will be paid upon delivery of a satisfactory product.

E.     Any money that has not been allocated for pitches at the end of the month is carried over to the next month.

3.  Wages and salaries

Some non content-producing roles occupied by associates will be compensated using hourly wages or monthly salaries.

3.1 Who receives them?

A.     Appointments to all positions associated with a wage or salary are to be subject to a competitive, transparent and democratic process (to be developed).

B.     Wages and salaries are paid for such work as editing, copy editing, technical support and customer support roles.

C.     Wages and salaries are calculated on the basis of equal value for equal time and labour.

D.    Premiums associated with risk expertise or for the use of personal equipment are consistent and in accordance IC’s internal regulations (to be developed).

3.2 Which method to use?

A.     Whether an hourly wage or a monthly salary is paid depends on work patterns.

B.     Associates who can be expected to have consistent demands placed upon them (such as editors and technical support staff) will be paid a salary,

C.     Associates who are likely to see a large degree of variability in the time requirements for work, (such as graphic designers) will be paid an hourly wage.

D.    Retainers may also be paid for those paid an hourly wage.

4.  Blogs

Not all editorial content is commissioned. Uncommisioned work on blogs is not restricted to the written medium. This kind of work shall also be rewarded over time.

4.1 Blogposts

A.     All associates, including non-editorial staff, will have a blog on the website which they will be encouraged to update frequently (“blogposts”).

B.     Work on a blog is compensated for based on the response it generates within the community of readers.

4.2 Internet points

A.     One “internet point” is awarded for each unique page view an associate’s blogpost receives.

B.     Accounts are kept for each associate’s internet points.

C.     Financial dividends associated with internet points, similar to those associated with shares in a publicly listed company, will be paid.

D.    Internet points are redeemable for money when released by their holder (the associate who has earned points from blogposts). Internet points released by their holder shall be annulled, lessening the number of existing points and increasing the value of points which remain. [Austin this is unclear. What is a “holder”? Do you mean the associate who wrote the blogpost? What does “releasing” involve? Does it have to do with copyright ownership?]

E.     Internet points are not tradable and may only be held by associates.

F.     Internet points will not confer voting rights, and all voting within the cooperative, including voting related to dividend payments and cash-out policies for internet points, shall function on the basis of one associate, one vote.

G.    Upon an associate’s death, a cash payment determined by the number of internet points held in their account, shall be paid according to the dictates of their Will. This matter will be separate to any insurance payments or policies.

4.3 The editor

A.     Editors will be expected to review and publish each blogpost promptly following submission unless they feel it is in serious breach of the law or internal editorial policies and regulations (to be developed).

B.     Disputes between editors and associates about blogposts are resolved by a consensus between the two parties.

C.     If this proves impossible, a dispute resolution process which involves a broader circle within the cooperative (to be developed), shall be followed




Categories: AGM22FEB2015